The post-2008 crisis and the ongoing crisis in Greece fueled a lot of work in the field of insolvency. The number of bankruptcy filings and out-of-court debt restructurings has risen dramatically.

As a result we have during the past years been instructed to advise in relation to actual or threatened insolvency proceedings. At the same time, our exposure to a great number of insolvency cases has equipped us with a unique expertise in advising our clients as to how to build bankruptcy-proof structures, when extending credit to Greek debtors.

We feel very strong in this area of practice; we have hands-on expertise. International creditors continuously seek our engagement to protect their interests vis-à-vis domestic insolvent debtors, but also to advise them in the shadow of forthcoming insolvency proceedings. We represent creditors on a continuous basis in domestic insolvency proceedings and we are frequently key shapers of bankruptcy reorganization or pre-bankruptcy reorganization plans. 

Holding entities of major multinational groups have instructed as to act in preparation of bankruptcy and pre-bankruptcy filings for their Greek subsidiaries. Our involvement with such filings has also enhanced our expertise in devising ways, by which piercing the corporate veil and reaching out the holding entities by the domestic subsidiary’s creditors will be avoided. 

Apart from acting both for debtors and creditors in corporate bankruptcies, we have also worked with sovereign creditors to advise them on a potential default on the Greek sovereign bonds. We have also advised sovereign creditors holding bonds issued by a foreign Government on the potential of a default on such bonds.  

Our major specialty in the insolvency area of practice is cross-border insolvency. Through our unique network internationally we are able to co-ordinate asset tracing globally, advise in relation to ancillary or main insolvency proceedings outside Greece, assist in group filings or other submissions before foreign bankruptcy courts. We have, together with international law firms, advised in relation to Chapter 11 reorganizations and English schemes of arrangement, thus having a one-of-a-kind experience among our local peers.

This email address is being protected from spambots. You need JavaScript enabled to view it. is the principal contact for this area of practice

Recent Highlights

  • Acting as international counsel to a number of Greek HNWIs in respect of the opening of transnational insolvency proceedings of a Dutch tour operator in the Netherlands.
  • Representing the largest Dutch media group, listed in Euronext, in connection with the insolvency proceedings of a Greek foreign press distributor and enforcement action in Greece.
  • Advising one of the leading five-star hotels in Greece with regard to the restructuring of an approx. 20mn EUR bond loan.